Best Silvergate Bank Transfer Brokers 2024

Silvergate announced it was shutting operations in 2023. See our list of alternative payment methods for online trading. 

Silvergate Bank is a San-Diego based provider of innovative financial solutions for the digital currency industry. Services are integrated with some of the largest fintech and cryptocurrency trading companies in the world. Here we review the service as an online payment method for traders and provide details of how to open an account, market cap, total assets and customer contact options. We’ve also compiled a list of the best brokers that accept Silvergate Bank deposits.

Silvergate Bank Brokers

These are the 2 best brokers that accept Silvergate Bank Transfer deposits and withdrawals:

Silvergate Bank Transfer Brokers Comparison

Silvergate Bank Transfer Brokers Comparison
Broker Minimum Deposit Instruments Platforms Leverage Visit
Kraken logo
$10 Cryptos AlgoTrader - Visit
Gemini logo
$0 Cryptos ActiveTrader, AlgoTrader, TradingView - Visit

#1 - Kraken

Why We Chose Kraken

Kraken is a leading cryptocurrency exchange with a proprietary trading terminal and a list of 220+ tradeable crypto tokens. Up to 1:5 leverage is available with stable rollover fees on spot crypto trading and up to 1:50 on futures. The exchange also supports crypto staking and has an interactive NFT marketplace.

"Kraken will suit traders looking for a diverse list of cryptos including Bitcoin and a good security track record."

- DayTrading Review Team
  • Instruments: Cryptos
  • Platforms: AlgoTrader
  • Minimum Deposit: $10
  • Minimum Trade: Variable

#2 - Gemini

Why We Chose Gemini

Gemini is a cryptocurrency exchange set up in 2014 by the Winklevoss brothers, known for their early involvement in Facebook. The exchange is among the world’s 20 largest and most popular. Gemini clients can trade and stake 110+ cryptocurrencies, with derivatives trading available in some jurisdictions, an advanced proprietary platform and additional features including an NFT marketplace.

"Gemini’s ActiveTrader platform and TradingView integration make it a good choice for serious crypto traders seeking a reliable charting environment, though we were disappointed by some unnecessary fees and previous security breaches."

- DayTrading Review Team
  • Instruments: Cryptos
  • Regulator: NYDFS, MAS, FCA
  • Platforms: ActiveTrader, AlgoTrader, TradingView
  • Minimum Deposit: $0
  • Minimum Trade: 0.00001 BTC

What Is Silvergate Bank?

Founded in 1988, Silvergate Bank is a leading digital financial services provider that is heavily involved in cryptocurrencies and decentralised finance (DeFi). The corporation is a member of the Federal Reserve, which stands as its regulator, and the Federal Deposit Insurance Corporation (FDIC).

Today, the technologically advanced solutions are integrated with more than 700 of the largest fintech and digital currency companies across the globe. This includes business locations in Hong Kong, Singapore, the United Kingdom and Malaysia. The bank is based in the La Jolla neighbourhood of San Diego, California.

Silvergate Bank has a history of successful financials. By June 2020, the bank had a total asset size of $2.3 billion with estimated annual revenue earnings of $50 million. Company stock is publicly traded on the New York Stock Exchange (NYSE) following an IPO in 2019 (ticker SI). The price by July 2021 was $98.75 with the largest share ownership held by SSgA Funds Management Inc.

Brokers that accept Silvergate deposits

Almost 500 employees and management members work to build strong investor relations and accessibility for traders with domestic and international exchanges. The digital currency payments system, named Silvergate Exchange Network (SEN), acts as the intermediary between currency exchanges like Kraken and Coinbase, with investors looking to trade cryptos like Bitcoin and Ethereum.


Silvergate Bank does not charge a fee for any incoming wire transfers to an account, including withdrawals from your trading account. Third-party broker processing fees may apply. It is always worth checking for these charges and estimated exchange rate valuation fees before you open a live trading account. Silvergate Bank’s fee schedule for different payment types is provided below.

Wire Transfer

VISA Debit Card

Other Fees


Silvergate Bank supports immediate fund transfers, 24/7, 365 days a year via the Silvergate Exchange Network (SEN). A personal bank account is required to gain the perks of the SEN banking network. This is highly beneficial in the volatile digital currency trading landscape, as there are no delays due to public holidays or weekend hours.

Silvergate Bank swift payments via Fedwire routing on the Kraken exchange are processed within one working day. International payments for the same method can take up to five working days to process. Eligible clients include residents from the UK, Vietnam, Seychelles, Pakistan, Thailand, Nigeria, India and more.


Regulated by the Federal Reserve, Silvergate Bank is also a member of the Federal Deposit Insurance Corporation (FDIC) and the Office of the Comptroller of the Currency (OCC). Additionally, all required earnings call filings and press release statements from the US Securities and Exchange Commission are complied with and stored.

Silvergate Bank maintains physical and electronic safeguards that comply with federal standards to protect personal profile information. Look out for brokers and exchanges that offer additional user verification such as one-time passwords (OTPs). Money laundering and fraud prevention guidelines are also available for personal account use and business integration.

How To Make Silvergate Bank Deposits & Withdrawals

To make payments, locate the Silvergate Bank logo on your online trading exchange account portal. Follow the bank wire or card payment instructions and enter the deposit amount.

Minimum and maximum payment limits, daily transfer amounts and processing times may differ by exchange and country of residence. For example, Binance requires Know Your Customer (KYC) compliance details to be completed before using the Silvergate Bank swift transfer payment option for deposits and withdrawals. Users must select the amount in US Dollars and highlight the swift code and routing number in their Binance account portal. Accepted outgoing currencies include the US Dollar, Euro, Swiss Franc, Hong Kong Dollar, Singapore Dollar.

How to make Silvergate Bank deposits

Pros Of Using Silvergate Bank For Traders

Cons Of Using Silvergate Bank For Traders

Final Word On Silvergate Bank

Silvergate Bank offers a fast and secure payment solution for digital currency investors. Registered as a member of the Federal Reserve, with OCC and FDIC membership, the system is both innovative and safe. Check the fees for using this payment method before depositing into a live account. Also head to our list of the top brokers that accept Silvergate Bank deposits to get started.


How Can I Deposit To My Trading Account From My Silvergate Bank Account?

Locate the Silvergate Bank logo at the login of your online trading account portal. Follow the bank wire or card payment instructions and enter the deposit amount. Accepted international locations for a personal banking account include the UAE, Indonesia, Hong Kong (HK), Dubai, Ecuador and Kenya. Keep an eye on the latest news for countries that will no longer be supported.

What Is The Difference Between Silvergate Bank SEN Vs Swift Payments?

SEN is for Silvergate Bank user remittances only, boasting faster transfer speeds. Swift is mainly used for international bank remittances, meaning processing times can be up to 5 working days.

What Is The Silvergate Bank Fee Rate To Deposit Into A Trading Account?

Silvergate Bank transaction fees vary by crypto exchange and broker. Some established corporations may cover charges associated with the payment method. Check the terms and conditions before depositing into a live trading account.

What Is Silvergate Bank's Payment Details For Making Trading Deposits?

Silvergate Bank’s corporate office address is 4250 Executive Square, Suite 300, La Jolla, CA 92037. The Swift/BIC/Clearing/IBAN account code is SIVGUS66. The FW (Fedwire)/USA/ABA/Transit/ACH bank routing code number is 322286803.

What Are Silvergate Bank Branches Opening Hours Near Me?

Silvergate Bank’s public opening hours will vary by city. Typical hours are 9 am to 5 pm (EST). View the latest branch details and reviews via the website or on social channels including Facebook and Twitter. Online services are available to the United States and international customers 24/7, 365 days a year.